Okay, I'm fairly certain the answer is no, but I was just curious. And I felt like sharing that I just found out I passed my second exam and I am practically giddy! And since I'm still at work and don't want to call everyone I know I decided I should announce the news on random message boards. For anyone that doesn't know, these exams are crazy -- they recommend you study 400 hours for each one. Anyway, I am so so happy I passed -- now I get a raise at work and don't have to study that same interest theory, finance, micro, and macro again. On to life contingencies and the third exam!

(This probably will get the record for the most boring topic ever.)

I absolutely cannot stand economics, finance, etc. It bores me to no end and actually even in life, I have an almost ruinous disregard for money and finance.

Speaking as one who is a natural at tests and with little prep tends to ace them I know there's no way in hell I could do what you did and I salute that.

Congrats lurker!!! Celebrate well. You most certainly deserve it.

PS. I don't find the post topic boring at all.

What's an actuary?

Originally posted by Franklinnoble
What's an actuary?

I think it's like topiary only made of stone.

Thanks, Axxon!

Actually I am terrible at studying also. I always did really well on tests in high school and college and didn't bother with homework, etc., so my grades weren't great. So having to study really sucked, but I had the motivation of the raise this time.

I hate econ and finance too actually, it's just the math that got me into the field -- I hope the stats on the next few exams will help me remember why I did get into it.

Actuaries determine insurance rates.

But do they weight the same as a duck?

Some determine insurance rates, but I'm an analyst that models data for a variety of situations -- usually projecting workers' compensation values for large firms. Actually last year, I had to project how large a trust fund would grow because some people were suing their father for blowing it on a new young wife. That was pretty interesting.

Although if you ask (http://www.miami.com/mld/miamiherald/living/columnists/dave_barry/6190468.htm) Dave Barry, he'd probably just say "actuaries are boring." And he'd be right.

Originally posted by lurker
Actually last year, I had to project how large a trust fund would grow because some people were suing their father for blowing it on a new young wife.

Who was consequently blowing it for a rich old husband. :D

Ok, ok, I'll stop now.

How did I not see that coming? And I think I even rephrased something to prevent a joke like that! :)

Congratulations, lurker! I gave some serious thought to becoming an actuary. I even looked over some material for the first test, but I decided to teach at the high school level instead. I just couldn't turn down the money. :) That probably shows that I wouldn't have been smart enough to pass any of the tests. From all I have heard, it's a great job to have, even though you are the first person I've heard that is one. Congrats and good luck on the future tests. How many are there? I forget.

Originally posted by lurker
How did I not see that coming? And I think I even rephrased something to prevent a joke like that! :)

Stick with the math and leave the wordplay to the professionals. ;)

Wait, did you say you couldn't turn down the money of a high school teacher as compared to an actuary? Where do you teach??? And I'll have to tell my boyfriend (Passacaglia) to work there! He was an actuary also, and is now going to become a teacher because he didn't care about the money. I don't care about the money either, I just can't stand high school kids. But seems like a lot of people who like math end up in one of those two fields.

There's roughly 9 exams, but it varies by which track you choose.

I think the smiley means he was just kidding lurker. You...were...kidding right ahbrady.


Weren't you? :)

/checks recent pay stub with an electron microscope.

So, in like 40 years or so, you'll be like Jack Nicholson in "About Schmidt."

I hated that movie, by the way.

It did look pretty bad. But Jack Nicholson plays the same character in every movie, so how good could it be?

Edit -- and don't freak me out by saying it'll take me 40 years! In theory I could be done in 5! ...that won't happen, of course...

Originally posted by lurker
It did look pretty bad. But Jack Nicholson plays the same character in every movie, so how good could it be?

As good as it gets??

Isn't he some crotchety old guy in that?

And in About Schmidt? I don't know, I guess I actually haven't seen most of his movies (which is shocking, considering "As Good as it Gets" is on tv like every day), but it seems like they're all "here's a guy with a rough exterior and a heart of gold." Gak.

I haven't seen About Schmidt but AGAIG has Helen Hunt in it so it must be a better movie. :D

Originally posted by lurker
Isn't he some crotchety old guy in that?

And in About Schmidt? I don't know, I guess I actually haven't seen most of his movies (which is shocking, considering "As Good as it Gets" is on tv like every day), but it seems like they're all "here's a guy with a rough exterior and a heart of gold." Gak.

No, in "About Schmidt" he was a crotchety old guy without a spine and no redeeming qualities whatsoever. His character had entirely zero development throughout the film. I feel violated for having paid money to rent it and then sit through it for nearly two hours.

Counselers in high school told me I should be an actuary. I told them I didn't want to be a nerd, so I became an engineer. :D

Oh, and congrats!

Sorry for the confusion. I teach in Arkansas, so I was definitely joking. I also hope that I didn't sound bitter either. I love my job, and I'm single so I do okay financially. So, I'm happy.

Hey Lurker, what are the best and worst things parts of being an actuary. Actuary Science is one of many math-related majors that I am considering when I begin college this fall.

Originally posted by Franklinnoble
What's an actuary?

Whew...i thought i was the only one who did'nt know :)

I'm an underwriter - so I find actuaries to be a pain in the ass in general. However there is a $2,000 referral bonus for actuaries at work right now, so if any actuary wanted to get into the health insurance business, I'd be happy to submit their resume. :)

lurker, what can you tell me about the value of the actuarial exams? (Other than passing one copped you a raise - congratulations, by the way)

I work in public policy, but probably have the math skills (perhaps with a little touch-up) to do actuarial work, probably still in that general field. I've heard mixed things about the exams and their relative value -- they clearly don't have the same weight as, say, the CPA exam.

I'm familiar with the tests themselves (I've taken a few practice exams... I'd probably have to take a brush-up calc class were I to take the exam) but am curious how your firm sees them, and what the general impression of the exams is among practicioners.

Thanks for the congrats, everyone!

Racer, there are definitely some bad parts to majoring in actuarial science in college. You'll be surrounded by people who are so focused on passing the exams they make you feel stupid for being curious about other fields. I remember when I was telling the president of the actuarial club what classes I was taking one semester, and she said "Philosophy? Why would you need that? That's not on any of the exams." But, if you can stomach being surrounded by annoying go-getters all the time, there are pros to it as well. By majoring in it in college, I was able to get lots of tips on which exams to take when, what kinds of things to look for in companies, and what the differences were between specific fields (life, property and casualty, health, pension consulting, etc.). Also, if you're going to a school that even offers it as a major a lot of companies will recruit there heavily, and you'll almost definitely get a great internship and a job offer out of school.

But by focusing so much on one field, it's hard to concentrate on other math areas. When I started college, I thought I wanted to go to grad school and eventually get my Ph.D in math and be a professor. But I couldn't major in just math, and I wasn't positive about pure math, so I figured I could major in actuarial math and still take the other classes, which didn't work out so well. There's not much room left in your schedule for other stuff, unless you're really determined. And actually a friend of mine majored in applied math, but was able to get a job as an actuary anyway -- but it wasn't as easy for him to get that job as it was for those of us who majored in it. But my point was that you could still do it without majoring in it and leave your options open, or if you plan well, you could major in it, and virtually guarantee yourself a job, and still take other classes. Especially if you're already thinking of it in high school.

I don't mean to scare you from the field though. It is pretty good, if you're not scared to try a few different jobs your first few years. I had a pretty crappy job a couple years ago, and now I love mine. I have really flexible hours (sometimes I get in at 10:30) and I get study days off -- 12 days per exam, and they're offered twice a year. I know some people who get as much as 17 days per exam (those are usually at insurance companies, which have a much more relaxed, but boring atmosphere, versus consulting). Then again I know some people who work until midnight during the few busy months of the year. Those people do probably make a lot more than me, though. I just don't care enough about money to want to give up my free time. Another good thing is I think there will always be a demand for actuaries. There just aren't many people who like math and like taking tests as an adult. So I feel really secure.

Here's (http://www.beanactuary.org) a cheesy website you've probably already seen if you've heard of the field.

I guess I rambled on for quite a bit and I didn't really tell you what my work is like. I mostly do stuff with excel and some actuarial software. It varies so much from company to company though -- where I used to work, they still used Fortran and didn't care that I had C++ programming on my resume. Anyway, most of my work is solo, but I know at other companies there're a lot of team projects. So basically there are a lot of options. Hope this helped some.

Quiksand, it's hard for me to say what value the exam would have in a non-actuarial field. In an actuarial firm, it is a very huge deal. That's really the best way to get the respect of the company, more so even than the work you do, I would say. It makes the company look better to have more people certified when looking for clients -- they can say "we have 6 FSA's and 3 ASA's." FSA - Fellow of the Society of Actuaries, meaning all exams have been passed, and they are fully certified to render actuarial opinions, and ASA - Associate of the Society of Actuaries, with like 6 exams passed. And I know when I was looking for a new job last year, a lot of companies rejected me because they wanted someone with more exams. I think if you think you can pass an exam, you should take it. It will make a huge difference to any employer that's heard of it. I know this advice has been vague, but I don't know too much about non-traditional actuaries, and I don't want to say anything that might not be true. This site probably has better information than I do.
http://www.actuary.ca